Monday, August 2, 2010

Obama Administration and BP's (NYSE:BP) Oil Leaking Levels

Now that it has been proven that the BP (NYSE:BP) oil spill in the Gulf isn't anywhere near the catastrophe it was thought to be, or reported to be, the Obama administration has a problem, and that is to determine the amount of oil leaking into the Gulf, which has no metrics in place to make the determination.

The other problem is the oil-eating microbes and evaporation has been far more effective in naturally handling the large amount of oil, and would have to be included in the final assessment of the effects of the spill on the region. At least it will have to be if the people making the decision have integrity.

So in a sense, the point isn't how much oil was released into the Gulf, it's how much oil caused damage in the Gulf, which can in fact be measured. The amount of oil from the well can't be determined in any way, and would just be a guess.

What is the point then in trying to figure out oil leaking levels? Nothing really. What is the Obama administration going to do, fine them for the oil traveling to the surface of the Gulf of Mexico and evaporating. Or charge them for microbes getting a large meal than in the past?

It's incredible to see the extraordinary media hype was based on raw emotion and little facts.

Scientists and professors all around the U.S. have come out of the woodwork saying it may not even be able to be labeled an environmental disaster.

This is why environmental groups are scrambling to keep the narrative one of a disaster, as they've largely lost donations during the tough economic times and are trying to pressure BP via the media to pay billions before the story grabs hold that this was far from the disaster that has been portrayed.